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South Korea's ruling party pledges spot crypto ETF trading, expanded bank access as election looms: report

The People Power Party (PPP), a major right-wing political party in South Korea, has pledged to expand banking access for crypto exchanges and allow trading of spot crypto exchange-traded funds within this year, as it seeks to court the crypto sector ahead of the upcoming presidential election.

In a Monday meeting at the National Assembly, the party unveiled seven initiatives to foster a crypto asset ecosystem, local news outlet Edaily reported. The party first pledged to scrap the "one exchange, one bank" rule, which financial authorities had enforced to curb money laundering and monitor suspicious transactions by requiring crypto exchanges to partner with a single bank for real-name verified accounts.

South Korea's ruling party pledges spot crypto ETF trading, expanded bank access as election looms: report

The People Power Party (PPP), a major right-wing political party in South Korea, has pledged to expand banking access for crypto exchanges and allow trading of spot crypto exchange-traded funds within this year, as it seeks to court the crypto sector ahead of the upcoming presidential election.

In a Monday meeting at the National Assembly, the party unveiled seven initiatives to foster a crypto asset ecosystem, local news outlet Edaily reported. The party first pledged to scrap the "one exchange, one bank" rule, which financial authorities had enforced to curb money laundering and monitor suspicious transactions by requiring crypto exchanges to partner with a single bank for real-name verified accounts.

https://www.theblock.co/post/352313/south-korea-crypto-pledge